期刊
NUMERICAL ALGEBRA CONTROL AND OPTIMIZATION
卷 8, 期 2, 页码 169-191出版社
AMER INST MATHEMATICAL SCIENCES-AIMS
DOI: 10.3934/naco.2018010
关键词
Integrated inventory model; Trade credit; Stock-dependent demand; Variable holding cost; Deterioration; Partial backorder
资金
- University Grants Commission (UGC) of India [F1-17.1/2012-13/MANF-2012-13-MUS-WES-19170/(SA-III/Website)]
- Portuguese Foundation for Science and Technology (FCT-Fundacao para a Ciencia e a Tecnologia) through the CIDMA - Center for Research and Development in Mathematics and Applications [UID/MAT/04106/2013]
This paper presents an integrated vendor-buyer model for deteriorating items. We assume that the deterioration follows a constant rate with respect to time. The vendor allows a certain credit period to buyer in order to promote the market competition. Keeping in mind the competition of modern age, the stock-dependent demand rate is included in the formulated model which is a new policy to attract more customers. Shortages are allowed for the model to give the model more realistic sense. Partial backordering is offered for the interested customers, and there is a lost-sale cost during the shortage interval. The traditional parameter of holding cost is considered here as time-dependent. Henceforth, an easy solution procedure to find the optimal order quantity is presented so that the total relevant cost per unit time will be minimized. The mathematical formation is explored by numerical examples to validate the proposed model. A sensitivity analysis of the optimal solution for important parameters is also carried out to modify the result of the model.
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